And you can look at our return on equity. As you know, it’s north of 30%. And this is what we are thinking about every time we deploy dollar. We think about what we’re going to get back. And again, like I said, the good news for us at this point in time is not what to do with capital. It’s — there is a lot of clear and present product opportunities that would help us capture both growth and market share.
Callie Valenti: That makes sense. And then second one from me, quick is, just wanted to hear anything about kind of how you’re thinking of the Portfolio WorkBench pricing and how that compares to your other modules.
Oleg Movchan: I think — we still — here’s an interesting conundrum. So Portfolio WorkBench is not something that we sell separately, right? As you know, we don’t have pricing package where we sell an order management system separately from PMS, from accounting NGL capability and Portfolio WorkBench is something that is just part of the overall platform right now. Going forward, we are working on different bundles, if you will, that will allow us to sort of maximize commercial relationship with our clients. Right now, Portfolio WorkBench is in this sort of — it’s a green shoot of our overall product strategy, and we will think through how to optimize that entire package. So the point is we’re not thinking about product Portfolio WorkBench as a stand-alone product that we’re pricing.
But we are definitely, definitely thinking about — number one, how it works as overall — in the context of the overall package that our clients to buy and also how that pricing will be driven as a function of what the Portfolio WorkBench is going to work in conjunction with. Because remember, at this point in time, it’s just a tool, it’s just an environment. It’s just a framework, right? It still has to be if you will, parameterized and enriched by benchmark data by risk model data, by market data. And those partnerships, in turn, they drive the pricing structure of the product. And so there’s a lot of dimensions here. And rest assured, Brad and his team are hard at work and talking to our revenue team, thinking about how to capture that the best possible way.
Operator: We’ll take our next question from Koji Ikeda at Bank of America.
Natalie Howe: This is Natalie Howe on for Koji. On ACV, so on an absolute basis, it grew this quarter more than it did last quarter, which is good to see, but overall, the past few quarters, the growth rate has been decelerating a bit. Do you see that potentially stabilizing or holding in the upcoming quarters? And what could help drive growth there?
Oleg Movchan: Well, it’s a natural, again, extension of our strategy. We’re just landing bigger clients, longer contracts, bigger tickets, and we expect this trend to continue. Again, we play very well in lower market segments in very low market segment, just for clarity, we don’t conform to price-driven competition. We still compete and capabilities, not on price. But we keep seeing a lot of interesting opportunities in this higher ACV space. And so our overall ability to lend clients $300,000, $400,000, $500,000, $600,000 type range, is much stronger than it’s been before, and we have an interesting opportunities in pipeline that is already in 7-digit type territory. And so as we move slowly, as I said, Enfusion is a business in transition this is precisely where that transition is happening. So as we move towards that segment, you will see more and more of that.
Brad Herring: Natalie, I will add, you might see some quarterly fluctuations in that growth rate, just depending on when clients are onboarded. So on a quarterly basis, you can see some bouncing around. I would push you to probably steer a little bit more towards looking at it kind of on a year-over-year basis, you’ll get a better number.
Operator: That does conclude today’s question-and-answer session and today’s conference call. We thank you for your participation. You may now disconnect.
